Judgment Search Results Home > Cases Phrase: finance no 2 act 1977 Court: allahabad Page 21 of about 405 results (0.063 seconds)

Seth Brothers Vs. Commissioner of Income-tax and ors.

Court : Allahabad

Reported in : [1971]80ITR693(All)

..... building or place by an inspecting assistant commissioner or income-tax officer purported to have been made in pursuance of sub-section (1) of section 132 of the principal act before the commencement of this act shall be deemed to have been made in accordance with the provisions of that sub-section as amended by this act as if those provisions were in force on the day the search was made and shall not be called in question before any court of law or any ..... the finance act of ..... the ground- (i) that the inspecting assistant commissioner or the income-taxofficer made such search with the assistance of any other person; or (ii) that no proceeding under the indian income-tax act, 1922,(11 of 1922), or the principal act was pending against the person concernedwhen the search was authorised under the said sub-section. ..... commissioner shall not authorise the retention of the books of account and other documents for a period exceeding thirty days after all the proceedings under the indian income-tax act, 1922 (11 of 1922), or this act in respect of the years for which the books of account or other documents are relevant are completed. ..... commissioner shall not authorise the retention of the books of account and other documents for a period exceeding thirty days after all the proceedings under the indian income-tax act, 1922 (11 of 1922), or this act in respect of the years for which the books of account or other documents are relevant are completed. ..... into the act from that date by the finance. .....

Lakshmipat Singhania Vs. Commissioner of Income-tax

Court : Allahabad

Reported in : [1969]72ITR512(All)

..... by the income tax act, 1952, as amended by the finance act, 1956, it was provided that for the years 1956-57 and subsequent years income-tax under schedule e in respect of any office or employment is chargeable on the emoluments therefrom which fall under case ..... the amendment of the law by the finance act, 1956, the decisions in mcmillan v. ..... case of shoorji vallabhdas decided by the supreme court, put very briefly, were that the assessee was a firm resident in british india, and it acted as the managing agent of shipping companies which plied cargo boats touching ports in british india as well as in the then indian states of cochin, travancore ..... chargeable under rule 6 of schedule e, as it then prevailed, he would not be liable to tax under case i of schedule e from and after the year 1956-57 in view of the amendment introduced bythe finance act, 1956. ..... was in the nature of a gratuity and, although a gratuity is taxable under section 7(1) of the act, the amount in question could not be taxed under section 7(1) as the lady was not a servant ..... to that decision we would like to refer to the relevant provisions of the indian companies act, 1913, as it prevailed at the material time, relating to directors, their position, powers ..... of the net profits as defined under section 105 of the bhopal state companies act, 1945, whichever is higher, and, in the latter case, the directors may distribute among themselves the sum as appropriated in such proportion as they may mutually agree upon, or, .....

Sheo NaraIn Jugdish NaraIn Vs. the State of Uttar Pradesh and anr.

Court : Allahabad

Reported in : [1974]33STC488(All)

..... the division bench distinguished it by observing:upon the facts in that case, it is clear that when the income-tax appellate tribunal set aside the original assessment it was on the ground that the indian finance act, 1939, was not in force in chhota nagpur and, therefore, the income-tax officer had no jurisdiction to take any assessment proceeding for the year 1939-40 in respect of the business in chhota nagpur ..... observed:in that case, however, the assessment for the year 1939-40 made on the assessee was quashed by the income-tax appellate tribunal on the ground that the indian finance act, 1939, was not in force during the assessment year in chhota nagpur where the assessee was carrying on the business. ..... to be different from each other, namely:(a) khandsari molasses including sheera-sayar, sheera galawat and sheera-salawat;(b) rab, including rab-sayar, rab-galawat and rab-salawat;(c) gur-lauta and gur-raskat.the act continued to provide:and accordingly, nothing in this section shall be construed to prevent the imposition, levy or collection of tax under section 3-a in respect of any one of the said goods merely because tax has been imposed ..... subsequently, bihar regulation iv of 1942 was promulgated by which the indian finance act, 1939, was brought into force in chhota nagpur retrospectively from 30th march, ..... it is clear that the explanation as it stands after its amendment by this act of 1972 shall be deemed to have been on the statute book ever since the original explanation .....

Manik Chand Sethia Vs. Union of India (Uoi) and ors.

Court : Allahabad

Reported in : (1997)143CTR(All)428; [1997]226ITR411(All); [1997]92TAXMAN524(All)

..... is interested in the property and sub-section (1a) as inserted by the finance act, 1993, with effect from november 17, 1992, makes this all the more ..... gautam's case : [1993]199itr530(sc) in section 269ud by the finance act, 1993 (sic), and proceeded on the special terms of the agreement between the parties which were to the effect that in case the government decided to purchase the property ..... , the supreme court held that the requirement of giving an opportunity of hearing to the aggrieved parties has to be assumed in the provision of the act, otherwise that would be open to challenge on the ground of violation of the provisions of article 14 on the ground of non-compliance with the principles ..... laul : [1994]208itr734(bom) , decided on march 10, 1993, holding that in a writ petition, the high court does not act as a court of appeal over the order of the appropriate authority and unless its findings are perverse or show a total non-application of mind to the relevant facts, it would not ..... interpret this term in the light of special law as contained in chapter xx-c of the income-tax act, 1961, it would be unwise to follow the general law under the transfer of property act that an agreement to sell does not create an interest in the property in favour of the buyer ..... the apparent consideration has been defined in section 269ua(b) of the act which provides that where the whole or any part of the consideration for such transfer is payable on any date or dates falling after the date of such .....

Saraya Sugar Mills Ltd. Vs. Income-tax Officer and ors.

Court : Allahabad

Reported in : (1998)147CTR(All)418; [1997]226ITR475(All); [1997]92TAXMAN514(All)

..... to the provisions of the act and the finance act, 1977, the sum of rs. ..... after the passing of the finance act and pays self-assessment tax under section 140a of the act, such taxes are, on the own admission of the assessee, amounts properly chargeable under the act for that year and they cannot lose that character of being the amount with which he is properly chargeable under the act simply because an assessment is ..... that an assessee has paid, admitting the same to be the amount properly chargeable from him for a particular year, represent the legal liability under the act of the assessee until an assessment under section 143 is made and he can get a refund only if, as provided in section 237, he satisfies ..... under section 139 or section 148, after taking into account the amount of tax, if any, already paid under any provision of this act, the assessee shall be liable to pay such tax together with interest payable under any provision of the act for any delay in furnishing the return or for any default or delay in payment of advance tax, before furnishing the return and the ..... india the petitioner seeks quashing of a notice issued under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the act'), for the assessment year 1977-78 and a direction to refund to the petitioner the entire taxes deposited by it for the assessment year 1977-78 with interest. 2. ..... old assessee under the act, filed the return of income for the assessment year 1977-78 declaring an income of .....

O.C.M. Ltd. Vs. Commissioner of Income-tax and anr.

Court : Allahabad

Reported in : (1982)29CTR(All)295; [1982]138ITR689(All); [1982]10TAXMAN209(All)

..... there was also no dispute that under clause 2(b)(ii) of part ii of the first schedule of the finance act, 1965, which was relevant for the year under consideration, super-tax was not chargeable. ..... ii of the first schedule to the finance act, 1965, the petitioner was not liable to pay any super-tax and that being so the deduction of super-tax at rs. ..... it has been laid down in that case thus (headnote) : ' the power to make a reference under section 57 (of the stamp act) is not only for the benefit of the chief controlling authority but enures also for the benefit of the party affected by the assessment and can be demanded to be used also by such a party. ..... he may make such enquiry or cause such enquiry to be made and, subject to the provisions of the act, may pass such order thereon, not being an order prejudicial to the assessee, as he thinks fit. ..... sub-section (1) authorises the commissioner to call for the record of any proceeding under this act either of his own motion or on the application by the assessee, for the revision of an order. ..... section 263 of the act empowers the commissioner to exercise his revisional power in favour of the revenue if on an examination of the record of any proceedings under this act he considers that any order passed therein by the ito is erroneous in so far as it is prejudicial to the interest of the revenue. .....

Duncans Industries Limited Vs. State of U.P. and ors.

Court : Allahabad

Reported in : AIR1998All72

..... pursuant to the said agreement and with the permission of kda and with the consent of the competent authority/the government of uttar pradesh under the provisions of the urban land (ceiling and regulation) act, the vendor has by a deed of sub-lease dated 10-12-1993 granted a sub-lease of the said demised lands jo the purchaser for the remaining unexpired terms under the said deeds of lease w.e.f. ..... provides for an intrinsic circumstance which coupled with the application for clearance of income -tax and order passed on it by income-tax officer under section 230 of the income-tax act, 1961 and no objection certificate issued by the appropriate authority under section 269 of the income-tax act, 1961 would constitute reasonable material/ground for believing that the value of the property was not truly set forth in the deed of conveyance. ..... income-tax officer, air 1981 sc 1363, the supreme court while dwelling on the expression 'reason to believe' occurring in section 147a of the income-tax act, 1961 was pleased to hold as under :'the important words under section 147(a) are 'has reason to believe' and these words are stronger than the words 'is satisfied'. ..... the petitioner has approached this court by means of the present petition, assailing the legality and propriety of the two orders -- one dated 20-2-1995 passed in proceeding under section 47a(2) of the stamp act, 1899, by additional district magistrate (finance and revenue), kanpur nagar, levying stamp duty of rs. .....

Brij Bhushan Lal and Sons Vs. Designated Authority

Court : Allahabad

Reported in : [2000]246ITR353(All); [2001]114TAXMAN356(All)

..... the merits of different legal issues raised by the learned authorised representative, i agree with the contentions of the learned authorised representative on the main issue that under section 245 of the income-tax act, before making any adjustment of refund due toany person against any demand due from that person, the assessing officer is obliged to issue an intimation in writing to such person of the action proposed ..... sir, for the abovementioned assessment year, against the demand created vide assessment order under the wealth-tax act, certain adjustments have been made in respect of refunds becoming due under the income-tax and wealth-tax acts of different assessees as under : name ofthe assesseestatustaxamountseth b.d.gupta(huf)huf(specified)l tax4,76,473seth b.d.gupta(huf)huf(specified)l tax2,49,099 7,25,572 that the adjustment ..... allowed the appeals and held that the impugned adjustment of refund under the income-tax act against the wealth-tax demand for different years and in some cases of different assessees ..... it will be seen from the provisions of the income-tax act contained in section 245 of the income-tax act, and also the provisions of the wealth-tax act contained in section 34a(5) of the wealth-tax act that adjustment is permissible only in respect of the income-tax refund against income-tax dues in the case of the same assessee and likewise wealth-tax refund against ..... , the petitioner made declarations under section 89 of the finance (no. ..... section 89 of the finance (no. .....

Commissioner of Income Tax Vs. Swarup Vegetable Products

Court : Allahabad

Reported in : (2005)197CTR(All)138

..... however, in view of the clear and specific direction in section 47 of the finance act, 1987, the explanation could not be applied to situations arising before 1st june, 1987.in view of the foregoing, it is held that there was no default on the part of the appellant-company in deposit of tds ..... we have given our anxious consideration to the various pleas raised by learned standing counsel and we find ourselves unable to accept them for the following reasons :under section 194a(1) of the act, as it stood during the relevant period, amount of tax was to be deducted at source at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of cheque or ..... liable to pay such interest, crediting would be deemed to be such income to the account of the payee and the provisions of section 194a(1) of the act have been made applicable-from 1st june, 1987.thus, in view of the provisions of section 194a(1) of the act, as it stood before the explanation which was effective from 1st june, 1987, it is absolutely clear that the liability of tax at source arose only ..... is concerned, it is before the explanation inserted by the finance act, 1987, w.e.f. ..... it may be added that the time for making the payment of the tax deducted at source is governed by section 200 of the act read with rule 30 of the it rules, 1962, and would reckon from the date of credit of interest made constructively to the accrual of the payee which would ordinarily be within one .....

Commissioner of Income Tax – Ii, Lucknow Vs. Ms. Lucknow Public Educ ...

Court : Allahabad

..... 142a was inserted by the finance act, 2004 with retrospective effect ..... the section was inserted by the finance (no.2) act, 2004 with effect from 15.11.1972 to confer power on the assessing officer, to refer the matter to the valuation officer which earlier ..... court found that the tribunal had not considered the provisions of section 142a of the act which was introduced by finance act no. ..... the cit (a) further held that the reference made both under sections 16a of the wealth tax act and section 55a of the act was unauthorised and that the report given by the department valuation officer, being technical in nature, can serve as a guide for ..... whether while referring the property to valuer in pursuance to powers conferred under section 142-a of the income tax act, it shall be necessary for the assessing authority to record reason with regard to reliability of books of accounts or books of accounts should be rejected with precondition ..... was admitted by order dated 03.12.2007 on the following substantial question of law:-the income tax appellate tribunal further erred in law in not correctly appreciating the provisions of section 142a of the act introduced with retrospective effect from 15.11.1972 correctly as there are no pre-conditions stipulated in this section, e.g. ..... the issue as whether the valuation officer under section 55a of the act could be appointed for valuation of an asset if in the opinion of the assessing officer the amount expected in making the investment exceeds .....